It has been another busy week for Australia's top brokers. This has led to the release of a large number of broker notes.
Three broker buy ratings that you might want to know more about are summarised below. Here's why brokers think these ASX shares are in the buy zone:
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Northern Star Resources Ltd (ASX: NST)
According to a note out of Macquarie, its analysts have retained their outperform rating and $14.00 price target on this gold miner's shares. Although its FY 2023 result was a touch underwhelming, the broker remains positive and continues to see significant value in its shares at the current level. The Northern Star share price is trading at $11.18 on Friday afternoon.
Qantas Airways Limited (ASX: QAN)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this airline operator's shares with an improved price target of $8.75. Goldman Sachs was impressed with Qantas' performance in FY 2023 and believes there's more to come in the new financial year. In light of this, the broker feels that the current share price doesn't reflect the company's improved earnings capacity. The Qantas share price is fetching $6.27 today.
Universal Store Holdings Ltd (ASX: UNI)
Analysts at Morgans have retained their add rating and boosted their price target on this youth fashion retailer's shares to $4.25. This follows the release of a full-year result which revealed profit ahead of the broker's expectations. Overall, its analysts believe that the company's attractive collection of medium-term growth prospects is undervalued on a single digit FY 2025 P/E ratio. The Universal Store share price is trading at $3.79 this afternoon.
